Printed Circuit Board Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
The Printed Circuit Board (PCB) Market is predicted to grow by registering a CAGR of 4.12% during the forecast period. The market experienced rapid growth in the last few years, primarily owing to the continuous development of consumer electronics devices and the increasing demand for PCBs in all electronics and electrical equipment.
Key HighlightsThe printed circuit board market is competitive due to the presence of a few significant players like Jabil Inc., Wurth Elektronik Group (Wurth Group), TTM Technologies Inc., Becker & Müller, and Advanced Circuits Inc. Major vendors, with a prominent market share, are focusing on expanding their customer base globally. By leveraging strategic collaborative initiatives, these companies also focus on increasing their market share and profitability. However, with technological advancements and innovations, mid-sized and smaller companies are growing their market presence by securing new contracts and tapping new markets, making the market concentration medium.
Würth Elektronik ICS, a leading provider of power elements for PCB contacting, introduced a new generation of lead-free high-current contacts in October 2022. The second PowerPlus generation, LF PowerPlus 2.0, has the same current-carrying capacity and torque as the first version, but it is now more efficient and easier to process and assemble, making it a great choice for connecting components and cables to the PCB.
In September 2022, Würth Elektronik Circuit Board Technology Group announced the foundation of "Würth Elektronik CBT International GmbH." The new business division's main goal is to improve and grow the company's position on international markets, especially in Europe.
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